Lee Company has the following information for the pay period of December 15–31: ​ Gross payroll $16,000   Federal income tax withheld $4,000 Social security rate 6%   Federal unemployment tax rate 0.8% Medicare rate 1.5%   State unemployment tax rate 5.4% ​ Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be recorded for

Q: Selected data from a February payroll register for Vaughn Company are presented below. Some amounts…

A: Formula: Total deductions = FICA tax + Federal Income tax + State income tax + Union due. Sum of…

Q: Monty Company's payroll for the week ending January 15 amounted to $357,000 for salaries and wages.…

A: Payroll: Payroll is the remuneration that a firm is required to pay to its workers for a certain…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Journal entry: It is the duty of the accountant to record business economic and non-economic…

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Social security tax deduction = Gross payroll x Social security rate = $19,352 x 6% = $1161.12…

Q: The following totals for the month of April were taken from the payroll records of Concord…

A: The entry to record the payroll expenses is  Particulars Debit (in $)  Credit (in $) Salaries…

Q: P a y t o n company payroll for the year is $747,930. Of this amount, $469,230 is for wages paid e x…

A: Total unemployment taxes=Net Futa tax+Net suta tax

Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: The payroll register for Schmidt Company for the week ended April 29 indicated the following:…

A: Note:- Dear student Accounting equations are not done because we didn't find any instructions in…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: In January, gross earnings in Kemstar Company totalled $90,000. All earnings are subject to Standard…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: The payroll register for Gentry Company for the week ended December 17 indicated the following:…

A: If a business has employees, it has to record for payroll. Payroll is the aggregate expenditure on…

Q: he following information about the payroll for the week ended December 30 was obtained from the…

A: Payroll taxes are charges forced on employers or workers and are typically determined as a level of…

Q: Assuming no employees are subject to ceilings for their earnings, Jenkins  Company has the following…

A: Social security and Medicare tax rates are based on gross payroll. The federal income tax withheld,…

Q: 9. Oates Company's payroll for the week ending January 15 amounted to $50,000 for Office Salaries…

A: Payroll taxes are the taxes collected from the employers by the government. It is the tax that is…

Q: The following totals for the month of April were taken from the payroll register of Marigold…

A: The journal entry to record the monthly payroll on April 30 would include a debit to Salaries and…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Date Accounts title and explanation Debit ($) Credit ($) Dec-30 Sales salaries expense $ 350,000…

Q: Highridge Homes has the following payroll information for the week ended February 21: Name…

A: Following is the summary of gross pay:

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Requirement 1)a. Prepare the journal entry to record the payroll on December 30.

Q: Lee Company has the following information for the pay period of December 15–31: Gross payroll…

A: Given that: Gross payroll = $15416 Social security taxes = 6% Medicare rate = 1.5% Federal income…

Q: The totals line from Nix Company’s payroll register for the week ended March 31, 20--, is shown:…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: The payroll registers for Schmidt Company for the week ended April 29 indicated the following:…

A:

Q: Jones Corporation pays its employees monthly. The following information is available for the January…

A: Given the following information: Gross wages: $70,000 FICA rate: 8% Unemployment taxesFederal:…

Q: Lee Company has the following information for the pay period of December 15–31: Gross payroll…

A: Option “c” is the correct option.

Q: Go Systems had the following payroll data for wages for the week ended February 5. The state income…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Social security tax = Gross payroll × 6% Federal unemployment tax and state unemployment tax are not…

Q: The following totals for the month of April were taken from the payroll records of Shamrock Company.…

A: Net amount payable = Gross salaries - FICA taxes withheld - Income taxes withheld - Medical…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Salary expense include basic salary and all type of allowance provided by the company in addition to…

Q: The following totals for the month of April were taken from the payroll register of Magnum Company.…

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Answer a:

Q: According to a summary of the payroll of Scotland Company, total salaries were $500,000.  Assume…

A:

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Federal income taxes are imposed in USA. The income tax is determined by applying tax rate which…

Q: totals for the month of April were taken from the payroll register of Omar Company. Salaries and…

A: In the journal entry for the payroll expense, the salary and wages expense is debited, all the taxes…

Q: $350,000  Warehouse salaries 182,000  Office salaries 136,000   $668,000     Deductions:

A: Payroll is  remuneration that a company owes to its employees for a specific period of timeon a…

Q: The summary of the payroll for the monthly pay period ending July 15 indicated the following:…

A: Federal income taxes are imposed in USA. The income tax is calculated by implementing tax rate which…

Q: 1)Chester Company reported payroll for the month of January 2022 as follows: Total Wages Income…

A: The payroll tax liability is the total amount of the tax that is company liable for before any…

Q: XYZ Company is processing payroll for the week ending January 9th. Employee earnings total $5,000.…

A: An entry in a payroll diary is a record of the salary that an employer gives to its employees.…

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Salaries payable is the amount of salary which is due but not yet paid.

Q: ) Journalize the payroll entry for the week. DATE   Debit Credit X/X…

A:

Q: According to a summary of the payroll of Scotland Company, salaries for the period were $400,000.…

A: Introduction: Journal: Recording of a business transactions in a chronological order.

Q: Wallace Corporation summarizes the following information from its weekly payroll records during…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Rand Company’s payroll on December 31 of the current year is as follows: • total payroll, $500,000 •…

A: Introduction:- Preparation of the journal entries for Rand’s payroll and payroll taxes as follows:-…

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Salaries payable are calculated by deducting social security rate, Medicare rate and Federal income…

Q: Urban Window Company had gross wages of $310,000 during the week ended July 15. The amount of wages…

A: Journal: Recording of a business transactions in a chronological order.

Q: Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be…

A: Salaries are paid to employees net of the taxes and employees contribution withheld.  As per thr tax…

Q: The payroll register for Schmidt Company for the week ended April 29 indicated the following:…

A: Journal entries for recording the payroll and payroll tax for April 29.

Q: Sheffield Consulting Inc's gross salaries for the biweekly period ended August 24 were $12,500.…

A: Salaries expenses include the following deduction = CPP Payable + EI payable  + income tax payable…

Q: Namsky Co. has the following information for the pay period of December 15 - 31: Gross Payroll…

A: To calculate the salary payable we have to use the following formula; Salaries payable = Gross…

Q: repare the entry to record January payroll tax expense

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Payroll tax expenses are the expenses which is related to payroll of an employee deduct by the…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…